This paper examines the role of reputation in the corporate bond market as a substitute for underpricing. We find that underpricing occurs with seasoned debt issuers as well as debt IPOs and it is highest among riskier, unknown firms. In addition, firms with no prior banking elationship have...

This paper examines underpricing of IPOs and seasoned offerings in the corporate bond market. We investigate whether underpricing represents a solution to an information problem or a liquidity problem. We find that underpricing occurs with both IPOs and seasoned offering and is highest among...

We examine price pressure in a setting where trades occur because of regulations. Our study of fallen angel bond sales by insurance companies shows that price pressure is not significantly different from zero when information effects are absent. Our results confirm the prediction of several...

This paper examines underpricing of IPOs and seasoned offerings in the corporate bond market. We investigate whether underpricing represents a solution to an information problem or a liquidity problem. We find that underpricing occurs with both IPOs and seasoned offering and is highest among...

We examine price pressure in a setting where trades occur because of regulations and when information effects are absent. Our study of fallen angel bond sales by insurance companies shows that price pressure is negligible, if not non-existent. We attribute our results to the fact that the trades...